Foundation substituted as beneficiary of gift3 (1) As regards any subsequent transaction, matter or thing, theFoundation is hereby substituted for the Hospital as the beneficiary of anygift, including any devise, bequest, endowment or trust of which theHospital would, but for this Section, be the beneficiary and everydocument, including every will, trust instrument, deed, life insurancepolicy, endowment or indenture that refers to the Hospital is amended tothe extent necessary to give effect to such substitution.

Deemed repeal of subsection (1)(2) If the objects of the Foundation are changed from the objects as nowset out in its Memorandum of Association on the coming into force ofthis Act, subsection (1) is deemed to have been repealed. 1994, c. 2, s. 3.

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